Amazon.com has surpassed two trillion dollars in market value for the first time in afternoon trading on Wednesday.
The push higher for Amazon’s stock market valuation comes a little more than a week after Nvidia hit three trillion dollars and briefly became the most valuable company on Wall Street. Most of the company’s focus has been on business-focused products, including AI models and a chatbot called Q, which Amazon makes available to businesses that use its cloud computing unit AWS.
In April, Amazon CEO Andy Jassy said that AI capabilities have re-accelerated AWS’ growth and that it was on pace for 100 billion dollars in annual revenue.The tech giant has also invested four billion dollars in the San Francisco-based AI company Anthropic to develop so-called foundation models that underpin the generative AI systems.We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues.